Beacon Equity Research: Black Swan’s Nassim Taleb on OWS
In a display of cogent and rational thinking to what many have ascribed as ‘complex issues’ surrounding banker bailouts, Nassim Taleb, famed author of The Black Swan, told Bloomberg Television on Tuesday that, for him, the cause of the breakdown in the financial system is a simple one: reckless Wall Street practices are systemically protected by way of rewarding bankers for taking on ‘risk’ while government insures them against losses through the use of taxpayer money—thereby, de facto, creating a risk-free environment for bankers to gamble with bank deposits. And when the bankers lose the bet, government’s threat of force…
